Whether or not you currently have estate planning documents, scheduling regular estate plan checkups is essential to ensure your plan remains up to date and effective. Whether or not you currently have estate planning documents, scheduling regular estate plan checkups is necessary to ensure your wishes remain protected and your plan stays up to date. 

Life changes quickly—marriages, divorces, new children or grandchildren, a move to another state, changes in assets, or even shifts in your personal goals can all affect whether your existing documents still reflect what you want. Many people create an estate plan once and assume they're set for life, but outdated documents can lead to confusion, unintended consequences, or even family disputes. 

By reviewing your plan every few years or after major life events, you ensure that your instructions are clear, your beneficiaries are properly named, and your plan continues to work exactly as you intended.

Don't Have an Estate Plan?  

If you don't already have an estate plan, then getting one in place should be at the top of your to-do list.

Why?  Without an estate plan, you and your property may end up in a court-supervised guardianship if you become incapacitated, and your property and your loved ones may end up in a time-consuming and expensive probate proceeding after you die.

Worse yet, if you don't take the time to have any estate planning done, then the state where you live at the time of your death will essentially write one for you. It most likely won't divvy up your property the way you would have and certainly will not protect your heirs the way you would.  

A common misconception is that estate planning is only necessary for wealthy people. But this simply isn't true – anyone with a bank or retirement account, a home, or a family needs to make a plan for what happens if they become incapacitated or when they die. Of course, the complexity of the plan will vary depending on your circumstances. Still, all estate plans should be put together with the help of an attorney who is experienced with the legal formalities required to create a valid will, trust, health care directive, and power of attorney in your state.

How Old Is Your Estate Plan?

Do you already have an estate plan? Regular reviews ensure your documents reflect your current wishes and circumstances, helping you feel confident that your plan remains practical and up to date.

If you do, please pull your documents out of the drawer, dust them off, and check the date you signed them.  

Were your documents signed in the 80s or 90s, or, worse yet, before 1980?  If so, please run, don't walk, to an estate planning attorney, because your documents are terribly outdated and need to be updated as soon as possible.  

Did you sign your documents between 2000 and 2009?  Aside from the federal estate tax exemption jumping from $675,000 to $3,500,000. Because of significant changes in federal estate taxes, documents from this period may be out of date and need to be tweaked in some form or another.  

Did you sign your documents between 2010 and 2017?  Federal estate, gift, and generation-skipping transfer taxes underwent significant changes during these years, and “portability” of the federal estate tax exemption between married couples was introduced.  Unfortunately, while your estate planning documents may only be a few years old, they very likely do not take advantage of the opportunities made available from recent changes in federal tax laws.  And, it's not just tax laws that are changing – modifications to state laws governing wills, trusts, health care directives, and powers of attorney may warrant some revisions to your estate planning documents as well.

And last but not least, regardless of when you signed your estate planning documents, consider all the changes in your life since then because they may require revisions to your estate plan.

Estate Planning Is Not a One-Shot Deal

Estate planning is a continuous process, not a one-time event. We understand life changes, and we're here to help you keep your estate plan current as your life evolves, making you feel supported and cared for.  

We are here to help you navigate the changes that have occurred since your estate plan was prepared and ensure your wishes are still being carried out as you envisioned.  For those who need an estate plan, we are here now and will be in the future to mold it as you move through the various stages of life.  

Contact Hartmann Law Today

If you have questions about an estate plan review, contact our office to speak to an estate planning attorney.

Take steps to start your Life and Legacy planning today!  Take action to ensure your voice is heard when you are unable to speak for yourself.  Make the decision to protect yourself, your loved ones, your business, your property.   

Schedule a call today with Hartmann Law.

Hartmann Law provides Life and Legacy plans ready for today with an eye on the future.

YOUR CHOICES.  OUR GUIDANCE.

Life and Legacy Plans created by design and not by default!